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HomeMaritime NewsRegionsAsiaChina EximBank, ING earmarks $1bn for China-built ships and offshore equipment

China EximBank, ING earmarks $1bn for China-built ships and offshore equipment

China EximBank, ING earmarks $1bn for China-built ships and offshore equipment
The Export-Import Bank of China and ING Bank of the Netherlands have entered into a strategic partnership to invest $1bn to finance China-built ships and offshore equipment.

China EximBank announced on its website that starting from 2018, the two banks will also co-finance the buyers’ credit for the export of China-built ships and offshore equipment.

China EximBank believes that the signing of the agreement will help to give a financial boost to the ailing global shipping and shipbuilding markets.

Last week, the Chinese bank announced a co-financing deal with Taiwan’s First Commercial Bank for US firm Foremost Group over the construction of two 180,000 dwt bulk carriers in China.

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